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Home > Health Insurance News > National Union Fire Insurance Company Of Pittsburgh.: Managementrisk Protector(Sm) For Small Cap Companies
National Union Fire Insurance Company Of Pittsburgh.: Managementrisk Protector(Sm) For Small-Cap Companies
Endorsed by the U.S. Chamber of Commerce, Management Risk Protector Addresses Small-Cap Public Companies' Need for Access to Critical Management Liability Insurance
NEW YORK--Feb. 7, 2006-- National Union Fire Insurance Company of Pittsburgh, Pa.(R) (National Union), a member company of American International Group, Inc. (AIG), today announced the launch of ManagementRisk Protector(SM) (MRP), an innovative, cost-effective package of management liability insurance coverages targeted to help small-cap public companies protect themselves from management liability risks and exposures. Endorsed by the U.S. Chamber of Commerce, MRP provides small-cap companies with the choice of any or all of four essential management liability coverages, including: broad Directors & Officers (D&O) Liability; Employment Practices Liability (EPL); and Pension Trust Liability insurance. Independent Director Liability Insurance (IDL MAX(SM)) is also available to insureds for an additional premium.
"Today's small-cap public companies are facing many of the same disclosure requirements and management challenges as their larger counterparts," said Peter McKenna, President of the Corporate Accounts Public Company Management Liability Unit of National Union. "Dealing with regulators, employees, litigation-savvy investors, Sarbanes-Oxley and SEC requirements, small-cap companies urgently need higher and more sophisticated levels of protection, at a price they can afford. With MRP, we are pleased to offer a package that is responsive to the needs of small-cap corporations and is backed by our years of liability experience."
MRP combines the most critical management liability coverages into a single package, available with flexible retentions and aggregate limits to maximize cost-efficiencies.
The MRP program also leverages National Union's expertise in loss prevention, claims handling and litigation management to mitigate loss and to help insureds defend against management liability claims from shareholders, employees and others. This includes access to National Union's Panel Counsel, comprised of leading securities, employment practices and fiduciary litigation attorneys. Under the program, EPL insureds receive EPL Pak(R) Premier, National Union's proprietary loss prevention package of products and services designed to help companies minimize their employment practices exposures through best practices in training, testing, tracking and compliance in the workplace.
American International Group, Inc. (AIG), world leaders in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed in the U.S. on the New York Stock Exchange and ArcaEx, as well as the stock exchanges in London, Paris, Switzerland and Tokyo.
*Insurance is underwritten by member companies of American International Group, Inc., and is subject to underwriting review and approval. The description herein is a summary only. It does not include all terms, conditions and exclusions of the policies described. Please refer to the actual policies for complete details of coverage and exclusions. Coverage may not be available in all states. Non-insurance products may be provided through independent third parties.
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